The Gulf of Mexico remains to be a great source for development and exploration of domestic energy. It is also provides a tremendous opportunity for job creation and government revenue. A study by the American Petroleum Institute and the National Ocean Industries Association estimates that by streamlining the permitting process 190,000 jobs can be created by 2013 and the capital expenditures could increase by 140%, reaching $15.7 billion. Furthermore, spending by offshore oil and gas industry would increase by 70%, reaching $25.7 billion of investments, with total contributions to the nation’s GDP being nearly $45 billion.

Mahta Mahdavi is Director of energy and resources policy, National Association of Manufacturers